Burket Receives DOST Funding for AI-Powered Supplier Matching Platform
Burket, along with 13 other startups, got the approval for funding from the Department of Science and Technology’s Philippine Council for Industry, Energy, and Emerging Technology Research and Development (DOST-PCIEERD). Each startup will receive a grant of up to 5 million pesos which will be used for research and development activities under the startup grants-in-aid program.
Burket, as the implementing agency, proposed a project titled “Improvement and Assessment of Marketability of an AI-powered Buyer-Supplier Matching and Management System for Businesses in the Philippines”. The project aims to create a comprehensive database of suppliers locally. From this data, a new model will be developed that will be able match the best suppliers to buyers based on their profile and procurement needs. This will be integrated to Burket’s social business-to-business (B2B) marketplace and vendor management system (VMS).
The project was conceptualized because a lot of us are still having a hard time looking for suppliers - whether it is for our household needs, supplies, or materials to keep our businesses running. Not everything is readily available in stores within our vicinity and while the Internet has become a helpful tool to search for suppliers, still, not all business can be found on the web.
The project will be able to help small business owners and procurement officers to be able to easily find new suppliers that adheres to their policies and be able to meet their requirements. Instead of browsing directories, attending trade shows, or waiting for suppliers to respond to request for quotes (RFQs), the proposed system can automatically match suppliers based on their specific needs, location, and other qualifiers that the buyer can set.
At the same time, the project will improve the discoverability of suppliers that don’t have a complete online presence. Business pages on social networks like Facebook or LinkedIn don’t show up on search engine result pages (SERP) when you look for manufacturers, product distributors, wholesale items, or service providers. Business profiles on Burket are search engine optimized (SEO) to ensure they would show up whenever a potential buyers search for their products or services.
Burket’s proposal aligns with the startup grant fund program theme “Jumpstarting the Economy in the New Normal” under the supply chain and logistics management category. Other categories include sustainable industries, learning, work from home and productivity tools, content and talent development, and public service digital tools.
To learn more about the project and how Burket can help your business, schedule a call with us using this link: https://calendly.com/burket/schedule